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» » » BREAKING : Italian Prime Minister Says He Will Resign, Concedes Referendum Defeat

BREAKING : Italian Prime Minister Says He Will Resign, Concedes Referendum Defeat

Italian Prime Minister Matteo Renzi announced he will tender his resignation after admitting defeat in Sunday's referendum.

According to projections, 59% of people who cast ballots on Sunday said 'no' to a plan backed by Mr. Renzi that would have overhauled Italy's legislature to make it easier to pass laws, including measures meant to make the country more competitive.

Impact : Strong
Sentiment : Bad for Euro

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